Fred Goodwin, the former CEO of Royal Bank of Scotland (RBS) stripped of a knighthood for his role in the bank's near collapse, is among several former RBS directors fighting claims they were at fault for the lender's troubles.
Goodwin, alongside former RBS chairman Sir Tom McKillop and ex-RBS investment banking chief Johnny Cameron, as well as the bank itself, are being accused by the RBS Shareholders' Action Group of misleading investors over a £12bn rights issue completed only months before the bank was forced to ask for an emergency bail-out. The group, represented by lawyers Herbert Smith, deny the bank made "untrue or misleading statements" in the prospectus for the capital-raising in 2008. Instead, they argue they were floored by "unforeseeable and entirely unprecedented" events sparked by the failure...
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